BudgIT said it uncovered the discrepancies after examining the 21,108 capital projects in the budget. The presidency had submitted a proposed fiscal budget of N16.391 trillion to the national assembly, but the lawmakers later raised it to N17.127 trillion — an increase of N735.8 billion. “Our preliminary analysis of the 21,108 capital projects in the 2022 approved budget revealed 460 Read More
The Federal Government has revealed how it it intends to fund its budget deficit this year. Patience Oniha, Debt Management Office (DMO) said, government intend to roll out an FGN Bond in the first quarter of 2022. FGN Bonds are debt securities (liabilities) of the Federal Government of Nigeria (FGN) issued by the Debt Management Office (DMO) for and on Read More
Governor Babagana Umara Zulum of Borno state Monday assented to the N269, 696,860.00 2022 appropriation bill passed into law by the Borno state House of Assembly at the Government House, Maiduguri. The initial budget proposal of N267,921,484.00 was adjusted to N269, 696,860.00 to take care of requests from four ministries during House committee on appropriation’s consultations which raised the budget Read More
As Governor Nasir el-Rufai of Kaduna state signed the 2022 budget into law amidst high expectations from residents, the state government explains that the ‘Budget of Sustainable Growth’ is targeted at completing the urban renewal projects and addressing poverty among the citizens at the grassroots level. ABDULRAHEEM AODU takes a look at the budget’s targets and expectations of Kaduna people. Read More
President Muhammadu Buhari on Friday in Abuja signed into law the 2022 Appropriation Bill and the 2021 Finance Bill. The President signed the documents in the Presidential Villa in the presence of Senate President Ahmed Lawan, Speaker of the House of Representatives, Femi Gbajabiamila, and other members of the Federal Executive Council. Speaking at the event, the president said the Read More
Stakeholders in the water and sanitation subsector have called governments across Africa to set aside a minimum of 5 per cent allocation from their annual budgets for water and sanitation programmes. The call was made at the just concluded Africa Water and Sanitation Week Conference in Widhoek, Namibia. The continents’ governments had in 2003 pledged to commit at least 5% Read More
With benefit of hindsight, agriculture has been a livewire of Nigeria’s nation with the inordinate potential to make the country great. It is however the most neglected sector, which is lackadaisically served with empty promises and false hopes over the last three decades. This column has written a series of articles on Agriculture with the latest piece on World Food Read More
The Senate Wednesday announced plans to consult with the House of Representatives on the way out of the logjam over President Muhammadu Buhari’s veto on the 2010 Electoral Act (Amendment Bill) Bill 2021. The position came as a sharp contrast to the earlier threat by Senators George Sekibo, Mathew Urhoghide and some others who pleaded anonymity, to override Buhari’s veto. The aggrieved Read More
Niger state House of Assembly has increased the state 2022 estimated budget by N13 billion from the N198 billion submitted by the executive to N211 billion. While passing the budget Tuesday in Minna, the assembly said it was jacked up in view of improved revenue currently accrued to the state. Presenting the report of the House Committee on Planning and Read More
Jema’a local government chairman, Comrade Yunana Markus Barde, has presented the 2022 proposed budget estimate of two billion, nine hundred and ninety-four million, seven hundred thousand, nine hundred and eighty-two Naira (N2,994,700,982,00) to the local government legislative council for approval. The chairman, who was accompanied by the vice-chairman, Christie Yori Usman, and other executive members, presented the budget during the Read More
Governor Hope Uzodimma of Imo Friday presented a budget estimate of N381,462,947,677 billion for the 2022 fiscal year. The budget captioned “Budget of Wealth Consolidation and Recovery” earmarked N96,746,349,775 for Recurrent expenditure representing 23.36 percent of the budget and N284,716,597,902 for capital expenditure, representing 74.64 percent. The budget set aside N8,980,000,000 from the recurrent expenditure and N6,379,828,253 from the capital Read More
Speaker of Lagos state House of Assembly has urged Governor Babajide Sanwo-Olu to work more on policies to bring more dividends of democracy to the people. Obasa gave the advice when the governor visited the assembly Wednesday to present the 2022 Budget of Consolidation put at N1, 388, 285,459,990.51. Speaking after the presentation by the governor, Obasa who passed a Read More
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said Wednesday that the federal government cannot sustain the current N250 billion monthly petroleum subsidy. Briefing State House correspondents at the end of the weekly Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari, the minister said the costly monthly subsidy is making the Nigerian National Petroleum Read More
Taraba state governor Darius Ishaku on Friday laid the state’s 2022 appropriation bill of N146, 781,653,671.82 to the House of Assembly for consideration. Ishaku, while laying down the budget, said it was another opportunity to work together to achieve what was best for the state. He stressed that the 2022 budget was tagged “Budget of Hope and consolidation.” He said Read More
The Zamfara Social Protection Platform (ZSPP) has appealed to the state government to appropriate fund in its 2022 budget for welfare of Internally Displaced Persons (IDPs). ZSPP, a civil society organisation (CSO), in a position paper on Friday in Gusau, stated that the fund would help to address other social protection issues. The position paper was presented at a town Read More
Governor Bala Mohammed of Bauchi state Thursday presented a proposed budget of over N195 billion to the state House of Assembly for the 2022 fiscal year. Presenting the budget, the governor stated that the sum of N8 4,375,180,518 : 00 representing 43 % was earmarked for recurrent expenditure while capital expenditure receives the sum of N110,620,426,625 :00 representing 57 %. Read More
Ministry of Mines and Steel Development has proposed a N23.4 billion budget for the 2022 fiscal year. This budget is slightly lower than N24.4 billion budgeted in 2021. Minister of Mines and Steel Development Arc Olamilekan Adegbite stated this while defending the budget proposal at the National Assembly on Monday. He however, called for more fund allocation to the steel Read More
The National Inland Waterways Authority ( NIWA), is to exit the National budget in the 2023 fiscal year saidState congress: Akala to meet Oyo APC . But the joint committee of both the Senate and the House of Representatives on Marine Transport, rejected the 2022 budget proposals presented by NIWA’s MD on alleged disjointed figures. In his presentation before the Read More
The Federal Executive Council (FEC) Wednesday approved the 2011-2025 National Development Plan (NDP) to replace Economic Recovery and Growth Plan (ERGP). Minister of Finance, Budget and National Planning Mrs Zainab Ahmed disclosed this at the end of the weekly FEC meeting chaired by Vice President Yemi Osinbajo. She said the plan has an investment size of N348.7 trillion to be Read More
Stakeholders, including journalists and members of civil society organisations (CSOs) Tuesday expressed concern over a forensic report of the Niger Delta Development Commission (NDDC) which indicated that over 12,000 abandoned projects are scattered across the region. The report, according to the Minister for Niger Delta Affairs, covers between 2001 and 2019. The stakeholders cautioned that NDDC projects should not be Read More
The Office of the Surveyor General of the Federation (OSGoF) has proposed a budget of N3, 322,641,589 billion for the 2022 fiscal year. A breakdown of the budget proposal shows that N2,095,279,790.00 billion would be expended on capital expenditure; N1,002,361,799.00 for personnel cost; and N255,000,000.00 million for overhead. In 2021, the office proposed a budget of N3,074,221,896.00 billion and has Read More
Governor Abdullahi Umar Ganduje of Kano state Thursday presented a budget of N196,353,468,5.5k for the year 2022 fiscal year before the House of Assembly for consideration. Presenting the budget tagged; ‘Budget of consolidation and prosperity’ to the legislators, members of the state executive council, opinion leaders and notable stakeholders, Governor Ganduje said the 2022 capital expenditure stands at the sum Read More
The Federal Executive Council (FEC) Wednesday approved the take over the reconstruction of 21 federal roads across the six geopolitical zones of the country by Nigerian National Petroleum Corporation (NNPC). Briefing State House correspondents at the end of the weekly FEC meeting president over by Vice President Yemi Osinbajo, Minister of Works and Housing, Mr Babatunde Fashola, said the approval Read More
Regrettably, naira depreciation does not hold any assurance of better things economically for Nigerians. There is obviously misguided and unrealistic call that the naira be devalued in expectation that matching “official rates with parallel market exchange rates will attract foreign investors or ensure competitiveness of the Nigerian economy”. Conversely, foreign investors are ‘smart guys’ investing chiefly in economically and minimally Read More
The Association for Public Policy Analysis (APPA) has tackled the Minister of Finance, Budget and National Planning, Zainab Shamsuna Ahmed, and Director General, Budget Office of the Federation, Ben Akabueze, over the exploitation of electricity consumers, demanding urgent intervention. In an interview with our reporter in Abuja, the National President of APPA, Comrade Princewill Okorie, said that electricity consumers are Read More
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